United Fire Group (NASDAQ:UFCS) Downgraded by StockNews.com

StockNews.com downgraded shares of United Fire Group (NASDAQ:UFCS) from a strong-buy rating to a buy rating in a report published on Thursday.

Separately, Piper Sandler reaffirmed an underweight rating and issued a $21.00 target price on shares of United Fire Group in a report on Monday, April 1st.

United Fire Group Stock Performance

United Fire Group stock opened at $21.49 on Thursday. United Fire Group has a 52 week low of $18.41 and a 52 week high of $25.55. The stock has a market capitalization of $543.61 million, a P/E ratio of -31.14 and a beta of 0.40. The stock has a fifty day moving average of $22.22 and a 200-day moving average of $21.98.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, May 7th. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. United Fire Group had a negative return on equity of 2.63% and a negative net margin of 1.50%. The business had revenue of $296.00 million during the quarter, compared to analysts’ expectations of $282.30 million. On average, research analysts forecast that United Fire Group will post 1.1 earnings per share for the current year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.98%. United Fire Group’s dividend payout ratio (DPR) is presently -92.75%.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.06, for a total value of $52,650.00. Following the sale, the director now owns 449,363 shares in the company, valued at approximately $9,463,584.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On United Fire Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of United Fire Group by 127.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,761 shares of the insurance provider’s stock valued at $96,000 after purchasing an additional 2,669 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of United Fire Group by 22.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 957 shares in the last quarter. Quest Partners LLC bought a new stake in shares of United Fire Group during the 4th quarter valued at about $113,000. New York State Common Retirement Fund boosted its position in shares of United Fire Group by 17.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of United Fire Group during the 1st quarter valued at about $202,000. Institutional investors own 62.68% of the company’s stock.

About United Fire Group

United Fire Group, Inc, together with its subsidiaries, provides property and casualty insurance for individuals and businesses in the United States. The company offers commercial and personal lines of property and casualty insurance; and reinsurance coverage for property and casualty insurance. Its commercial lines include fire and allied lines, other liability, automobile, workers' compensation, fidelity and surety coverage, and other insurance products; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners, as well as provides assumed reinsurance products.